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Union Pacific's Net Rises
Despite Higher Fuel Costs

Union Pacific Corp.'s fourth-quarter net income rose 1.2% despite declining December traffic and soaring fuel costs biting into its bottom line, and said it sees continued gains in 2008 despite economic weakness.

The Omaha, Neb., railroad recorded net income of $491 million, or $1.86 a share, compared with $485 million, or $1.78 a share, a year earlier. The company in December cut its fourth-quarter per-share earnings estimate 10% to...